Forex today saw a major selling in the Pound at the start of the new week in Monday’s Asian training, as Brexit jitters returned to the markets amid increased odds of the UK PM May’s Brexit deal rejection by the UK lawmakers ahead of Tuesday meaningful vote. The Cable broke below the 1.3000 level and reached three-week lows near 1.2970 region. The EUR/USD pair also traded on the back foot, tracking the losses in the sterling while dwindling Eurozone growth concerns also dragged the common currency lower. Meanwhile, the Yen traded a shade firmer amid softer risk tones, keeping USD/JPY near 111 handle. The Antipodeans, on the other hand, returned to the red zone amid China deflation scare and broad USD comeback while the downside remained cushioned amid higher oil prices and gold-price recovery. Mixed trading was witnessed on the Asian equities, as the Chinese stocks attempted a tepid bounce after Friday’s heavy sell-off, in response to the disappointing Chinese trade report. Main Topics in Asia Brexit disappointments drag GBP/USD to 3-week low at the start of key week Fed’s Powell says no immediate policy responses needed to economy – Reuters Powell’s CBS 60 minutes interview repeats same message – “Economy in good place, rates ‘appropriate’ given muted inflation” EU prepares to demand multi-billion pound increase on divorce payment from Britain in return for Brexit delay – UK Telegraph WTI bulls have a lot to price at this juncture, en route towards $57.85/93 double-top PBOC’s Yi Gang says “some room” exists for cuts in the reserve requirement ratio – Xinhua BOE asks UK lenders to triple amount of liquid assets before Brexit – FT NZ: Retail spending rose by 0.9% in February – Westpac China says growth of social financing, M2 is basically in line with nominal GDP growth HKD 3m Hibor rate rises 5bps, most since Dec 5 Key Focus Ahead This week’s EUR calendar kicks-off with a slew of key German macro releases due at 0700 GMT, including the industrial production, trade balance and current account. Also, of relevance remains the UK consumer inflation expectations data. From the NA docket, the US retail sales data will be published at 1230 GMT among a few minority reports. Meanwhile, the BOE MPC member Haskel’s speech will be closely followed at 1300 GMT for fresh GBP trades. The US traders may receive some fresh trading impetus from the US President Trump’s budget release at 1530 GMT. EUR/USD: Traders await German data and US retail sales for further direction German industrial production and trade balance could support the EUR strength if matching +0.4% and Euro 21.0 billion market consensus versus -0.4% and 19.4 billion Euro previous numbers. Brexit week: Get set for a rollercoaster of a week in GBP-FX Cable opened with a bearish gap of over half a buck as traders get positioned for a bumpy ride this week. MPs will pass their verdict on Prime Minister Theresa May’s plan to take Britain out of the European Union on 29 March this Tuesday. Gold Technical Analysis: Corrective bounce may be over Gold’s corrective bounce from the lows near $1,280 seen yesterday seems to have run its course and prices could revisit $1,290, the hourly and 4-hour charts indicate. US Retail Sales Preview: The question of December Retail sales are predicted to increase to 0.1% in January following December’s large but likely incomplete drop of 1.2%. Trump’s budget seeks 5% cut in non-defense spending Reuters is out with the additional details of the US fiscal 2020 budget to be published by President Donald Trump on Monday at 1530 GMT on the Office of Management and Budget’s (OMB) website. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ethereum overview: ETH volatility growing on $135.00 breakout FX Street 4 years Forex today saw a major selling in the Pound at the start of the new week in Monday's Asian training, as Brexit jitters returned to the markets amid increased odds of the UK PM May's Brexit deal rejection by the UK lawmakers ahead of Tuesday meaningful vote. The Cable broke below the 1.3000 level and reached three-week lows near 1.2970 region. The EUR/USD pair also traded on the back foot, tracking the losses in the sterling while dwindling Eurozone growth concerns also dragged the common currency lower. 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